Business
Indonesian Interbank Network Giant, ALTO, Adds ACI Worldwide Fraud Management to Enhance National Payment Experience
Industry’s most complete end-to-end enterprise payments solution deployed countrywide MIAMI & SINGAPORE & JAKARTA, Indonesia--(BUSINESS WIRE)-- ACI Worldwide
About this update from Aci Worldwide, Inc.
[{"type":"text","content":"\nIndustry’s most complete end-to-end enterprise payments solution deployed countrywide\n\n MIAMI & SINGAPORE & JAKARTA, Indonesia--(BUSINESS WIRE)--\nACI Worldwide (NASDAQ: ACIW), the global leader in mission-critical, real-time payments software, today announced ALTO, Indonesia’s leading interbank switch, has added ACI Fraud Management to its Retail Payments solution capabilities. The new deployment elevates ALTO’s interbank switch to the industry’s most advanced end-to-end enterprise payments solution.\n\nALTO operates one of Indonesia’s largest payment and acquiring networks and uses ACI for card-based transaction switching. It also operates ACI’s world-class fraud prevention solution across a range of real-time and alternative payment and merchant acquiring solutions such as QR code real-time payments—a timely and prudent enhancement, given the recent introduction of BI-FAST, Indonesia’s first national real-time payment system.\n\nEmbedding ACI Fraud Management into ALTO’s full suite of ACI payment solutions enhances and provides the network giant’s customers with greater security, reassurance and resilience, and demonstrates its commitment to ensuring its real-time payments solutions are backed by an equally best-in-class risk and fraud management infrastructure.\n\nAs Indonesia races to digitalize, the explosion of digital payments has led to a surge in the complexity of fraud detection for financial institutions. The growing diversity of payment types, soaring transaction volumes, and increasing speed means there is also a great deal more data to monitor and a lot less time to do it.\n\nAs real-time payments are new and fast, they are attractive for attackers. Fraudsters actively seek to exploit vulnerabilities in nascent digital technology and services, while the speed of payments means that they can cash out faster. The challenge is that traditional security solutions are often incapable of enforcing policies at the speed and scale of real-time payments.\n\n“Real-time payments are radically altering the way we view and respond to cybercrime and financial fraud. And the sophistication of the threat requires a modern, proactive approach,” said Leslie Choo, managing director, Asia Pacific at ACI. “Real-time threats require real-time data, analytics, security, and response—and that’s what ACI’s solutions provide to ALTO.”\...